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The financial information of Amy pic for the year ended 31 December 2020 has been provided below. 1 Changes in Current Assets/ Liabilities. Inventories 15,000
The financial information of Amy pic for the year ended 31 December 2020 has been provided below. 1 Changes in Current Assets/ Liabilities. Inventories 15,000 decrease Trade receivables 10,000 increase Trade payables 10,000 decrease 2 Changes in Non-Current Assets. Buildings 000 Motor Vehicles 000 200 (80) 120 (40) Acquisitions and Disposals During the year: Acquisitions Disposals Provisions for Depreciation During the year: Written off to Profit and Loss On disposals Revaluation of Assets Increase in value 60 (20) 150 3 Sales receipts of Non-Current Assets sold. Buildings 100,000 Motor Vehicles 25,000 4 Profit after interest and tax amounted to 88,750. 5 An analysis of the Statement of Financial Position for the years ended 31 December 2019 and 2020 showed the followings: 31 December 2019 31 December 2020 000 000 Corporation Tax owing 10 12 Debenture Interest due 30 36 10% Debentures 150 200 6 Tax stated in the Statement of Profit or Loss for the year amounted to 17,000. 7 Ordinary dividends paid amounted to 20,000. 8 Additional debentures were issued on 1 October 2020. 9 During the year, Amy plc issued 50,000 1 ordinary shares at a premium of 20p each share. Required: [19] (a) Prepare a statement of cash flow for the year ended 31 December 2020. [6] (b) Discuss THREE (3) purposes of statement of cash flow
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